REGISTERED NUMBER: SC072166 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Prestwick Flying Club Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A B Cameron

A A Craig

W Wilson

M D Falconer

Rev M D Bentham

R Logan

W A McKechnie

R L Thomas

A D Martin

REGISTERED OFFICE:

The Flying Clubhouse

Shawfarm Road

Prestwick

Ayrshire

KA9 1HE

REGISTERED NUMBER:

SC072166 (Scotland)

ACCOUNTANTS:

Key Professional Partnership Ltd

Unit 3

Morris Park

37 Rosyth Road

Glasgow

G5 0YE

FIXED ASSETS

Tangible assets

4

4,338

5,763

Investments

5

1,000

1,000

5,338

6,763

CURRENT ASSETS

Debtors

6

9,802

13,701

Cash at bank

105,786

93,611

115,588

107,312

CREDITORS

Amounts falling due within one year

7

64,133

38,873

NET CURRENT ASSETS

51,455

68,439

TOTAL ASSETS LESS CURRENT LIABILITIES

56,793

75,202

RESERVES

Income and expenditure account

56,793

75,202

56,793

75,202

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

A D Martin - Director

1.	STATUTORY INFORMATION

Prestwick Flying Club Limited is a private company, limited by guarantee , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies House Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Significant judgements and estimates

The land on which the company's premise is based is leased from Prestwick Airport on a monthly basis. The lease can be terminated by either party on a six month notice period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

4% on cost

Plant and machinery

-

25% on reducing balance

Aircraft

-

20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Government grants

Government grants are recognised at fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants in relating to turnover are recognised as income over the periods when the related costs are incurred

Grants relating to an asset are recognised in income systematically over the assets expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the assets carrying amount.

Financial instruments

Basic financial instruments are recognised as follows:

(i) Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using effective interest method less any impairment.

(ii) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet.

(iii) Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

Plant and

buildings

machinery

Aircraft

Totals

£

£

£

£

COST

At 1 April 2024

27,975

6,550

26,902

61,427

Additions

-

500

-

500

At 31 March 2025

27,975

7,050

26,902

61,927

DEPRECIATION

At 1 April 2024

24,936

6,534

24,194

55,664

Charge for year

1,119

129

677

1,925

At 31 March 2025

26,055

6,663

24,871

57,589

NET BOOK VALUE

At 31 March 2025

1,920

387

2,031

4,338

At 31 March 2024

3,039

16

2,708

5,763

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

1,000

NET BOOK VALUE

At 31 March 2025

1,000

At 31 March 2024

1,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Prestwick Flight Support Limited

Registered office: Scotland

Nature of business:

%

Class of shares:

holding

Ordinary

100.00

31.3.25

31.3.24

£

£

Aggregate capital and reserves

-

8,130

Profit for the year

-

656

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

377

1,736

Other debtors

9,425

11,965

9,802

13,701

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

35,497

11,570

Taxation and social security

-

3,033

Other creditors

28,636

24,270

64,133

38,873

8.	LIMITED BY GUARANTEE

The company is limited by guarantee and does not have a share capital.